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Deutsche Bank plans trigger autocallable optimization notes tied to BP
By Toni Weeks
San Luis Obispo, Calif., June 3 - Deutsche Bank AG, London Branch plans to price 0% trigger autocallable optimization securities due June 12, 2019 linked to the American Depositary Shares of BP plc, according to an FWP filing with the Securities and Exchange Commission.
Beginning one year after issuance, the notes will be called at par of $10 plus a call return of 9% per year if the ADSs close at or above the initial share price on any quarterly observation date.
If the notes are not called and the ADSs finish at or above the trigger level, the payout at maturity will be par. The trigger level is expected to be 59% to 65% of the initial share price and will be set at pricing. Otherwise, investors will be fully exposed to the decline in the share price.
UBS Financial Services Inc. and Deutsche Bank Securities Inc. are the underwriters.
The notes (Cusip: 25155Q185) will price June 6 and settle June 11.
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